Viet Nam, South Korea explore trade potential

Workers at a production line to manufacture electronic spare parts at the South Korean invested Bokwang Vina Company in the northern province of Thai Nguyen. — VNA/VNS Photo Danh Lam

HA NOI (VNS) — Enterprises from Viet Nam and the Republic of Korea are expected to expand co-operation and trade exchange opportunities in the manufacturing, food, cosmetics, and consumer goods distribution sectors.

The Viet Nam Chamber of Commerce and Industry held a meeting with the representatives of several Korean companies and signed a cooperation agreement with Daegu Technopark yesterday.

Hee Jun Cho of Deagu Technopark, a research institute, said that the RoK enterprises had shown great interest in Viet Nam and were seeking opportunities to penetrate the market here.

He hoped that with support and cooperation from the governments and business communities of the two countries, both sides would realise their potential in trade and investment exchanges.

Pham Quang Thinh, Deputy Head of the VCCI's International Relations Division, noted that the RoK was one of Viet Nam's most important partners in terms of both investment and trade.

Thinh said that apart from sealing many bilateral and regional trade and investment agreements, the two countries recently signed the Viet Nam-RoK Free Trade Agreement (FTA), providing a legal framework for policy enforcement and trade exchange.

With a combined capital of US$37.43 billion, the RoK has 4,140 valid projects in Viet Nam. Many of its leading corporations, including Samsung, LG, Hyundai, and Lotte, have manufacturing facilities or services in Viet Nam. — VNS